Short position on GJ @ 179.99. Targeting profit between 60-80 pips/ SL at close above last swing high. Still have bearish bias on the pair.
[B]UPDATE:[/B] Closed all positions @ 179.35 for +64 pips. Was thinking of leaving it overnight in case pair drops further, but then i’d be violating my discipline of not following my exit strategy.
Short position on GJ @ 178.75. TP set at 177.50 and SL at 179.47. Missed some pips there from closing my last trade as planned. Some regret felt. Waited for a pullback on 5min chart for a reentry.
[B]UPDATE:[/B] TP hit early morning for +126 pips. Got lucky that BOE was dovish.
Short position on GJ @ 177.32. TP anywhere between 40-60 pips. SL 20-30 pips.
[B]UPDATE:[/B] Opened 2.4 mini lots of EJ @ 134.64. GJ still open so yep probably risking way too much on this trade. Still, confident of a lower low after ECB
[B]UPDATE:[/B] Friday and 1 hr before market closes for the week. Closed all positions. My EJ positions gained +253 pips/GJ +76 pips.
Long positions entered on GJ @176.51 and EJ @131.96. TP for GJ eyed around 178.5/EJ @132.5. SL @30-40 pips. 5.2 mini lots used. Took trade based on weekend gap down w/c i suspect will bounce off last Friday’s swing low. Also, Greece elections may provide some stability despite results.
UPDATE: An hour after opening positions, down by almost -$400. Another poor entry. Right now +$200. Looking to hold positions at least by mid-week.
UPDATE: Monday morning, closed all positions. +223.8 pips for EJ/+166.3 pips for GJ. Went against me for half the gains so a 2:1 reward/risk for this trade.
Looking at the chart below, i see price at the middle of support and resistance. I don’t think it has bounced off yet enough times on either side to be recognized as a range but it looks like ranging to me. Anyways, i will steer clear until it hits either side based on my exp playing this particular pattern in the past.
H4 Chart of GBP/JPY
Short position on USD/SEK @ 8.28460. TP eyed around 8.10075. SL at last swing high around 8.34219. I’ve traded the pair in the past, but later lost touch of it. Upon checking the h1/h4 chart, i noticed its been on a rather stretched bull trend since last year. It’s gotta fall sometime right. No hopes on this trade. Will manage objectively.
UPDATE: 05:49PM EST. I am realizing now that i may not have carefully planned the size of the position and that it may be too large with respect to how volatile the pair is moving.
UPDATE: 12:46PM EST. Added 3 mini lots to current position at 1-hr pullback. Entered on morning star w/c is bullish but i don’t see any nearby support so i am betting it will fail and go lower.
UPDATE: 08:52AM EST. Closed all positions manually after it bounced off minor support early morning. +1279 pips for this trade. Lol would be more excited if not for the pair’s lower than normal $/pip value.
H1 Chart of USD/SEK
Long position entered on GJ @ 178.93. SL at 178.57/TP at 180.00. Saw some accumulation around minor resistance. In my opinion, it’s also fake resistance and the real one is around the 180 level. Decent R:R ratio as well.
UPDATE: Added 2.4 mini lots @ 178.66.
UPDATE: Closed all positions manually at 178.01. -91 pips.
Short position on GJ @ 178.06. SL @ 178.25/TP @ 177.25.
UPDATE: 06:46PM EST. Shorted NJ as well. 2.4 mini lots. Will leave overnight with SL but no TP.
Long GJ/EJ @ 178.34/132.90. SL at last swing low. TP indefinite. Holding 7.4 mini lots overnight. Risky but ill take it. Seeing the lower move earlier afternoon as fake or temporary reaction from FOMC. Reversal to the upside continues.
UPDATE: 11:37AM EST Thursday. Decided to close all positions manually for -37 pips. Didn’t like the pattern on H1/H4 chart.
Short position for GJ/EJ entered @ 177.92/133.73. SL 30-40 pips/TP @176.00/131.00.
UPDATE: Decided to close all positions manually for -38 pips. I am all over the charts right now.
Currently long on GJ/EJ. I will not be changing bias until next week. Will be holding positions over the weekend. Entered @ 178.28/133.97. NO SL/TP
[B]UPDATE:[/B] 11:50AM EST. Closed all positions manually for -160 pips, which takes out all my gains from the start of the week and + some more losses.
Hey I have been following your journal with interest, it seems to me that your previous GBPjPY trade is still viable. I think it might test 176 again. Most likely during today’s session. Could you give a bit of reasoning behind the long you just took?
Hey Brilliance,
Thanks for following. Though i’m not sure my most recent posts have any value to them. Still trying to reassess everything and trying to keep up with my trade journal. I took long position yesterday after it bounced off the minor support around 178.00. I failed to see the bigger picture w/c is why i got taken out earlier today.
Sorry to hear that. I was hoping you would see my post early enough to reassess. I think you checked the 1 hour and didn’t confirm on the 4hr, it was a beautiful trader on the 4hr. But such is a trader’s life.We learn and move on. I have discovered that this pair compared to the majors requires a lot of self control and patience
Yes. I got caught up mentally again and traded against price at every swing. Anyways, time to move on. You trade GJ often too?
I just got into it, I also trade the nzdusd and eurusd but I want to phase them out and concentrate all my energy into the GJ
You have any open positions right now on GJ?
Long position on GJ @177.25. SL 176.75/TP 178.25. Gap down during the weekend but price quickly filled it + bounced off key support.
[B]UPDATE:[/B] -70 pips. Wow! Way to start the week!
I had a short over the weekend. 177.88( took a 14 pip profit)and I just took two short term longs: one at 176.77 tp177.03.
when that got hit I took another at 177.32 tp at 177.46.
Right now I am on the sidelines but I am considering a mid term long, only thing I have right now is a TP at 179
Bruh! Word of advice . I am dont’t hqve much confidence in the long. It seems to me that this pair might have just been consolidating at this level and might continue its aggressive downward onslaught. I took a long at 177.49 but got out with a -20 i have decided to take an open short with half my usual risk at 177.27 and build on it if it keeps moving south